CII GOA WELCOMES DOUBLE ALLOCATION OF RS 15,700 CRORE TO MSME SECTOR

PANAJI: The announcement by the Hon’ble Finance Minister in her budget speech extended to MSMEs to the tune of Rs 15,700 crores which is double compared to the last year’s budget comes as a big relief to the MSMS’s. This will boost the MSME development. CII Goa welcomes this particular announcement, said CII Goa chairman Blaise Costabir.

With the manifold increase in digital payments, CII welcomed Rs 1500 crore scheme to promote digital mode of payments. This would further give an overall boost to digital transactions. CII also welcomed announcement of legislation on Higher Education Commission in the coming financial year which would help enhance the overall education framework in the country.

Also the allocation of Rs 50,000 crores for National Research Foundation for over 5 years, which will strengthen the overall research ecosystem. Focus would be on identifying national priority thrust areas. Costabir commended the announcement of one-year extension of tax holiday on Startups and capital gains exemption for Startups. This will incentivise funding in the Startup sector. The affordable housing projects can avail a tax holiday for one more year is also a welcome announcement by the Government, he said.

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